The Get Ahead Start Home Loan is a way for a family member to help you get started and is a great option if you are looking to buy your first home, but need a little extra help. Available for both investors and owner-occupiers.
Borrow up to 100% of the purchase price of your new property, plus additional funds to cover the costs associated with buying, such as legal costs and stamp duty.
All you need is a family member (usually parent/s) to offer a suitable security property as part of the home loan, and you can also save money on lenders mortgage insurance payments.
Your guarantor can be released from the guarantee early if they want to (provided the borrowers are not in default and we would not require lenders mortgage insurance on the then outstanding loan balance).
Home Loan Features
|Minimum loan amount :||No minimum|
|Maximum LVR :||80% (per security property offered)|
|Maximum loan term :||30 years|
|Interest charges :||Calculated daily, charged monthly|
|Repayment type :||Principal & Interest|
|Repayment frequency :||Weekly, fortnightly or monthly|
|Monthly loan fee :||$0|
|Package fee :||$0|
|Extra repayments :||Unlimited|
|Interest offset :||Yes|
|In principle approval :||Yes|
|Loan preparation fees :||At cost|
|Increase/top up :||Yes, subject to approval|
|Second mortgage security :||On application|
|Vacant land as sole security :||Yes (conditions apply)|